The Hartford Attributes Q4 Loss to Cost of Reinsurance Agreement

The Hartford has reported a net loss of $81 million for the fourth quarter, which the company attributed mainly to a $423 million charge related to a retroactive reinsurance agreement covering asbestos and environmental liability exposures. The fourth-quarter loss compares to a net income of $421 million in fourth quarter of 2015. For the full year, net income was $896 million, a 47% decrease from $1.682 billion for the full year of 2015. The Hartford’s commercial lines combined ratio for the fourth quarter was 91.3, a deterioration of 3.2 points from the fourth quarter of 2015. A...